Estimating Ultimate Incurred Losses in Auto Liability Insurance [Discussion]

The elaborate formulae treatment of Mr. Harwayne is dealt with by Lewis H. Roberts in an Appendix to this written discussion. I intend to direct attention to the practical rather than to the theoretical aspects of Mr. Harwayne’s treatment of this subject. It will quickly be inferred that I see little merit in embarking on the use of complicated formulae in ratemaking to ascertain what is disclosed by other available statistics that are both relevant and up-to-date.